Looks like that trailing $ causes problems in PowerShell v2, even though it doesn't actually cause any expansion to take place. It worked when I put a backtick before the $ (in a double-quoted string). In this case, though, single quotes are more appropriate anyway.

Ah, beat me to it. Ya, dug out a v2 VM and observed the same thing. Strikes me as a bug, which is obviously fixed, but a search in Connect didn't turn anything up. Likely the team noticed it and fixed it internally for v3.